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840 ans 827 explained in previous queries
It should be as per paid up capital unless other wise provided in AOA . Below is explanation.
- (i) Subject to the rights of persons, if any, entitled to shares with special rights as to dividends, all dividends shall be declared and paid according to the amounts paid or credited as paid on the shares in respect whereof the dividend is paid, but if and so long as nothing is paid upon any of the shares in the company, dividends may be declared and paid according to the amounts of the shares.
(ii) No amount paid or credited as paid on a share in advance of calls shall be treated for the purposes of this regulation as paid on the share.
(iii) All dividends shall be apportioned and paid proportionately to the amounts paid or credited as paid on the shares during any portion or portions of the period in respect of which the dividend is paid; but if any share is issued on terms providing that it shall rank for dividend as from a particular date such share shall rank for dividend accordingly.
Earlier it was allowed now discount is not allowed. It was treated as deferred expenditure to be transferred to P&L over 5 to 10 years or more. Balance which is not transferred to P&L is kept on asset side
Goods Sent to Branch
Branch A/c Dr xxx
To GSTB A/c XXX
Goods Returned from Branch
GSTB A/c Dr XXX
To Branch A/c XXX
In option A it should be “Credited” and in Option B it should be “Debited” please correct it
Option A and B both can be true. B Covers A also. B can be prefered. We can consider B is more appropriate
In books of selling company all assets and liabilities are transferred to realisation account , irrespective of whether these assets & liabilities are taken over or not by purchasing company. now anything paid or received for these assets and liabilities whether from purchasing company or to or from any third party effect will be given to realisation account as there is no separate asset or liability account left in books of selling company